SmartContract, also known as SmartContract.com is a way to connect smart contracts to your apps and data in an easier and more user-friendly way. Here’s our review.
What Is SmartContract?
SmartContract is a smart contract development platform found online at SmartContract.com. The platform helps connect smart contracts to your apps and data. Using the service, you can easily connect smart contracts to your web application, any API, and widely accepted USD payment methods.
In June, the San Francisco-based developer launched the first version of ChainLink, its software that can connect smart contracts across blockchains. The company is also preparing to release the ChainLink Network and the LINK token. The LINK token sale will take place throughout September.
You can get started Chainlinking a smart contract at the official website.
Today, SmartContract is used by SWIFT (the developers are working with the company to create the SWIFT Smart Oracle) as well as Gartner, Cornell, and the World Economic Forum.
Obviously, smart contracts are a major innovation in blockchain technology. However, companies may not understand how to integrate smart contracts between chains, or connect smart contract to external resources. SmartContract.com plans to solve this problem by working with companies to adapt smart contracts for real-world applications. With SWIFT, for example, SmartContract is created the SWIFT Smart Oracle, which allows smart contracts on various networks to make payments, send governance instructions, and release collateral with over 11,000 banks.
How Does SmartContract’s ChainLink Work?
Some of the core features of ChainLink and the ChainLink Network include:
- Connect to An Existing API: SmartContract.com makes it easy to connect smart contracts on various networks to your existing application and crucial external data. You can use the team’s APIs to connect blockchains and smart contracts to applications in the real world.
- Send Widely Used Payments: Send payments from your smart contract to existing bank accounts and over widely-used payment networks.
- Connect with Other Chains: Create secure cross-chain connectivity between your main smart contract and any other public or private chain.
Essentially, you use SmartContract by visiting the website and launching Ethereum ChainLink. That ChainLink allows you to connect real-world applications and payment gateways – like banks, assets, or physical goods – to the Ethereum blockchain and its smart contracts. The connectivity is created through ChainLink.
Uses For SmartContract
SmartContract is already used by a number of organizations and companies, including all of the following:
SmartContract is working with SWIFT to create their SWIFT Smart Oracle. That oracle allows smart contracts on various networks to make payments, send governance instructions, and release collateral with over 11,000 banks.
SmartContract has been chosen as a 2017 Blockchain Applications Cool Vendor by Garner. They feel this validates the value that CTOs and CIOs see in offering a more secure approach to connecting smart contracts with critical external resources.
SmartContract has partnered with Cornell’s IC3 to help launch the first Intel SGX secured link between smart contracts and external data. The developers claim this is a more secure way of running an oracle and “the future” of smart contract technology.
The company is based in San Francisco, California. You can contact the company by email at [email protected]
Key members of the team include Sergey Nazarov (CEO), who began his career building peer-to-peer marketplaces and joined the cryptocurrency revolution in 2011. Other key members include Steve Ellis (CTO), a software engineer who has previously worked on networks securing HIPAA-sensitive data.
The SmartContract Token Sale
The token sale is capped at $32,000,000 USD. There will be a total supply of 1 billion LINK.
35% of all LINK tokens will go to node operators to incentivize the ecosystem. 35% will be sold in the public token sale. And 30% will go to the company for continued development.
The LINK token is an ERC20-compliant token anyone can purchase with ETH.
The first version of ChainLink V1.0 launched on June 27, with the presale beginning on July 21. The crowdsale (available to the public) is scheduled for September 7.
SmartContract is a developer that aims to solve the connectivity problem in the world of blockchains and smart contracts. The company’s key technology is ChainLink, which was released back in June. ChainLink can be used to manage smart contracts across blockchains while connecting smart contracts to critical assets – like banks, stocks, or company data.
The ecosystem revolves around the LINK token and the LINK network. Through the release of APIs and other platforms, the developers plan to enhance the applicability and usability of smart contracts across the business world.
To learn more about SmartContract and how the company is planning to create a fully decentralized oracle network, visit online today at SmartContract.com.